Lend Lease Group’s (ASX:LLC) massive Barangaroo hotel and casino development in Sydney has hit another milestone. The property developer has been given the go-ahead to construct the final and tallest office tower at Barangaroo South as part of the $6 billion project. New South Wales Premier Mike Baird declared the project on track as the company announced new leasing arrangements for the soon to be built Tower 1 building.
HSBC and PricewaterhouseCoopers (PwC)
have inked leases for the Tower 1 building while Westpac Banking Corporation (ASX:WBC), KPMG and Lend Lease are among those committed to Towers 2 and 3.
Lend Lease will now start the development with plans to fund all of the building and introduce co-investors into Tower 1 in the future.
Shares in Lend Lease firmed 0.86 per cent following the news yesterday to close at $12.95.
Lend Lease Group reported a net profit of $252 million in the first half of the 2014 financial year.
